Current Attempt in Progress The following information is available for Kingbird Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier $15,000 Acquisition of equipment for cash 12,500 Proceeds from the sale of long-term investment at book value 22,400 Issuance of common stock for cash 20,500 Depreciation expense 27,400 Redemption of bonds payable at carrying (book) value 39,300 Payment of cash dividends 7,700 Net income 37,900 Purchase of land by issuing bonds payable 49,300 In addition, the following information is available from the comparative balance sheet for Kingbird at the end of 2022 and 2021: 2022 2021 Cash $150,000 $91,500 Accounts receivable (net) 26,400 16,900 Prepaid insurance 18,800 13,800 Total current assets $195,200 $122,200 Accounts payable $30,200 $19,900 Salaries and wages payable 6,100 7,100 Total current liabilities $36,300 $27,000